E-COMMERCE: A NEW NORMAL TO RETAIL BUSINESS

The Retail segment probably is the most important sectors for economy of any country and its growth & strength perspective. Indian retail industry is also not an exception to this rule. Over period of 7 decades since independence India has passed from various stages of growth in all sectors of the industry and service and lot of changes has occurred in this retail segment. Starting from bartering system in India, it has upgraded in different phases from unorganized retail to organized retail, and now organized retail to e-commerce. In today’s world E-Commerce is booming and with expansion of E-Commerce into Mobile-commerce (i.e. M-Commerce). Now with the strong hold of E-Commerce in the retail Market, and other online platform like digital India, mobile market growth etc. there are greater chances of impact of E-Commerce and M-Commerce on organized retail. Due to this potential in this E-Commerce and M-Commerce, various Big Business houses also entered in the retail market. Few of them are with Reliance Fresh, Big Bazar, and DMart etc. Even JIO is planning to enter into online segment. Having Venture in retail sector, and having competition for a portion of share of business from such a huge population of around 125 Crores of India. With the setup of big outlets in Metros and Urban areas to some extent they have given competition to small and existing players in the market. The whole object of these business is to form a strategy where the approaches to manufacturer directly and reduces the levels in intermediaries and distribution cycle and providing many products under one roof along with huge discounts. Now along with such retail business houses the manufacturers has started to have their own outlets in urban cities. They all are termed as organized retail sectors. With opening of Indian economy for all retail sectors, India has now started increasing foreign investment by changing its foreign direct investment (FDI) policy. Various International retail chain outlets like Wal-Mart has entered into India to be the part of this large potential retail segment. This study focuses on impact of such online E-Commerce and M-Commerce segment on the retail businesses with the finding out the Globle impact on Indian economy and its Gross domestic Income.

               

KEYWORDSRetail Business, M-Commerce, E-Commerce, Foreign Investments, Foreign Policy.


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